Austin-Based Loom Launches the World’s First Work-for-Equity Platform

Share Article

New platform allows entrepreneurs to connect with freelance web developers from around the world to find the best talent willing to work for equity.

“Loom eliminates the common hurdle of early-stage funding by providing a platform that connects entrepreneurs with a network of web development talent that can build their product through an equity exchange, which is a first for this industry."

Austin, TX (PRWEB)August 31, 2016

Loom, the world’s first and only work-for-equity based platform, has officially launched. Through Loom, entrepreneurs can now connect with freelance web developers from across the globe in order to help bring quality digital products to life in exchange for cash or equity in their company, eliminating the need for venture funding.

Posting any project on Loom is free for the hiring party and the freelance community can bid on the project in equity, cash or combined offers. Those hiring can then filter all of their bids by equity or cash offer, quality or location, and hire a developer of their choosing to complete the project for a small engagement fee. Once a bid is accepted, all industry-standard legal contracts are auto-generated and electronically delivered to both parties to commence the project. Loom charges the hiring party a $3 fee per hour of work a developer completes.

“Our goal with Loom is to create a platform that empowers anyone to actualize their dreams into powerful digital products without the need for raising venture funding,” said Chase White, CEO and Founder of Loom. “Loom eliminates the common hurdle of early-stage funding by providing a platform that connects entrepreneurs with a network of web development talent that can build their product through an equity exchange, which is a first for this industry.”

According to the Bureau of Labor Statistics, employment of web developers is projected to grow 27 percent from 2014 to 2024, much faster than the average for all occupations. Currently, there are approximately 15 million freelance workers in the U.S. and that number is expected to grow to over 60 million by 2020.

“The barriers to create a successful business are now lower than they’ve ever been,” said John Hamlin, former Executive Officer and Senior Vice President at Dell. “Loom’s platform amplifies this effect by empowering people to see their entrepreneurship dreams become a reality by immediately expanding their resources without the added cost, which is a really huge deal.”

For more information, please visit joinloom.com.

About Loom:

Based in Austin, TX, Loom is the world’s first work-for-equity platform that helps entrepreneurs bring ideas to life. With a focus on creating quality digital products, Loom empowers entrepreneurs around the world to connect with passionate freelance web developers willing to bring their ideas to life in exchange for cash or equity in the company. Loom simplifies and streamlines the legal process, protects confidential information and supports entrepreneurs on a cost-effective and efficient path to bring ideas to life. Raise ideas, not funds, on Loom.

To post your ideas for free and immediately start getting bids from developers around the world, visit joinloom.com today.